Said the mr obvious
US dollar implodes as stocks fall
The stock market is slipping but a huge stop just hit in USD/JPY below 99.00, sending it all the way to 98.39. There is no fundamental news behind the drop. To me it looks like huge buy orders went through on the technical breakout in USD/JPY and they had stops at 99.00. The tumble in the stock market has traders on edge as well with the S&P 500 now down 14 points to 1756. Did the 90% jump in twitter stock at the open send a message that stocks are in the euphoria phase of the rally?